India May Cut Import Duties
News: India is prepared to cut import duties and regulate exports, if needed, to ensure adequate domestic supply amid disruptions caused by the Iran conflict.
The move reflects growing pressure on global supply chains, with volatility affecting energy, fertilisers, semiconductors and food commodities.
The government aims to protect inflation, manufacturing output and food security, given India’s reliance on imports in key sectors.
To support exporters, benefits under the RoDTEP scheme have been extended until September 30, while customs duties on select petrochemical products have been temporarily removed.
These measures highlight India’s shift toward safeguarding domestic resilience as geopolitical tensions disrupt trade flows, raise costs and force countries to prioritise supply security over efficiency.
Source: The Economic Times
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